ProMIS Neurosciences Announces Up To $122.7M Private Placement Financing; Proceeds Expected To Support Company Beyond 6 Month And 12 Month Data From The PMN310 Phase Ib Study In Alzheimer's Patients
Portfolio Pulse from Benzinga Newsdesk
ProMIS Neurosciences Inc. (NASDAQ:PMN) announced a private placement financing of up to $122.7 million to support the development of its novel antibody PMN310 for Alzheimer's Disease. The financing includes an upfront $30.3 million and up to an additional $92.4 million tied to the exercise of warrants. The proceeds are expected to support the company beyond the 6-month and 12-month data from the PMN310 Phase Ib study.
July 26, 2024 | 12:34 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
ProMIS Neurosciences has secured up to $122.7 million in private placement financing to support the development of its Alzheimer's treatment PMN310. This includes an upfront $30.3 million and up to an additional $92.4 million tied to the exercise of warrants. The funds are expected to support the company beyond the 6-month and 12-month data from the PMN310 Phase Ib study.
The significant financing will provide ProMIS Neurosciences with the necessary funds to continue the development of its promising Alzheimer's treatment, PMN310. This financial backing is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100